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From The Collaborative International Dictionary of English v.0.48:
olefin \o"le*fin\, olefine \o"le*fine\([=o]"l[-e]*f[i^]n or [=o]"l[-e]*f[=e]n), n. [From Olefiant.] 1. (Chem.) Olefiant gas, or ethylene. See Ethylene. [archaic] [1913 Webster] 2. Hence: (Chem.) Any one of the series of unsaturated hydrocarbons of which ethylene is the type; a member of the alkene series of hydrocarbons; an alkene. [1913 Webster + PJC]